Arbusers

The Tote offers very similar odds to the bookies, but the number of winning tickets determines the amount you win. Your stake goes into a pool where all money bet on a race or meeting is combined and paid back out, minus deductions for running costs and a contribution to UK racing. So let's dive into Tote betting to get all its pros and cons cleared up.

Tote betting—the story in brief

What should bettors know before kicking off their Tote adventure? The Tote is a British bookmaker which offers parimutuel betting on horse racing. From 1928, the firm was owned by the UK Government, and it was the only bookmaker in Britain allowed to offer parimutuel betting on horse racing. Then, in 2011, it was sold to Betfred and again, in 2019, the new owners sold it to the UK Tote Group. Among the Tote's pooled bets are Win, Place, Exacta, Trifecta, Quadpot, Placepot, Jackpot, Scoop6 and Swinger.

Tote betting explained

Tote betting differs from traditional bookmakers because it uses a cumulative pool of prize money rather than fixed odds return. It means that after you've placed your bet and your stake went into a "pool" of money (each bet type has its respective pool), everyone with a winning ticket shares a percentage of the pot. So if fewer people back your horse, you get a greater share if it wins. Tote betting offers unique bets and sometimes better payouts than traditional bookies.

The Win bet is the most popular and straightforward Tote bet type. First, decide on the horse you want to back. Then, check the number of your selection in the race card—enlists Mike Cattermole. If you are physically at the racecourse, now you can give your number to the Tote person at the counter, along with your stake. Ask for a Win bet on your selection, and you'll get a Tote betting ticket in return. Alternatively, you can bet through the Tote online by following the steps outlined on the website.

What is better: fixed or Tote?

Suppose you are eager to try Tote but aren't sure if it's any better than traditional betting options. Fixed odds are when you place your bet, and the odds are set, i.e., they cannot change. Fluctuations, in this case, can only happen when a horse paying over $30 is late-scratched from the race. On the other hand, there are Tote odds. They are initially determined for each runner by bookmakers, but the market pressure is added. How much money is placed on a runner will determine its Tote price, depending on the total size of the betting pool. As a result, Tote odds can fluctuate dramatically depending on big bets coming late in the market.

While the preference for a bet type is a matter of personal choice, there are pros and cons of both options worth highlighting. Let's say you can identify early value when markets open. In such a case, locking in that value with the fixed odds is the way to go. If your predictions are correct, you locked a value price, which is the essence of making money when betting on horse racing. Mind that if things go in the opposite direction, the same characteristic of fixed odds will work against you. If the horse you back drifts out in the market, you are stuck with the odds you locked in. Thankfully, some bookmakers (such as Bet365) give punters the best of fixed odds available throughout the market.

So, why even consider the Tote option with the best of fixed odds from bookmakers?

There are situations when betting on the Tote can be profitable. Here, you never know what odds you'll get until your horse crosses the line. The Tote price is also subject to all-up bets and big late bets, which can alter the odds significantly. You can use Top Fluctuation (also known as Top Fluc) to get the best Tote price from all the official on-course bookmakers, which provides you with some security. It's a good idea to bet on the fixed odds market if you're looking for early value. Since markets for Saturday races open on Wednesday, there is a lot of time to lock in good value. Otherwise, bet on the Tote close to the start time.